Suppose the country of Popcorn produces only jets and corn. If Popcorn cannot produce any more jets without giving up corn, we say that Popcorn has achieved
A) the highest marginal benefit.
B) production efficiency.
C) the lowest marginal cost.
D) the highest opportunity cost.

Question

Quizplus · Accepted Answer

Popcorn has achieved production efficiency because it cannot produce more of one good without giving up some of another good, indicating that resources are being used in the most efficient way possible.

Suppose the Country of Popcorn Produces Only Jets and Corn